Silver Penny Stock Climbs on Drill Results

Penny stock Canasil Resources Inc. (CVE:CLZ) and Orex Minerals Inc. (CVE:REX) both get a lift from silver assays

Sean Mason | May 31, 2016 | SmallCapPower

Silver assays boosted two penny stock plays Tuesday, while financials weighed on shares of a marketer. Here’s some small stocks making big moves on Tuesday, May 31, 2016 (as of 4 pm EST):

CLZ logoCanasil Resources Inc. (CVE:CLZ) shares powered 35% higher to $0.31 on Tuesday after the junior explorer announced that Orex Minerals Inc. (CVE:REX) has reported additional silver mineralized intercepts from the final eight drill holes of the Phase-2 core drilling program in the southeastern region of the Sandra-Escobar project in Mexico, which included 46 metres core length (26.0 metres true thickness) grading 156 g/t silver starting from surface. Orex can earn up to a 65% interest in the project by completing US$4 million in exploration expenditures and $1 million in cash or share payments to Canasil. Orex Minerals shares gained 29% to $0.75.

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As well, shares of Snipp Interactive Inc. (CVE:SPN) slipped 18% to $0.245 as the provider of marketing promotions, rebates and loyalty solutions said its first-quarter revenue fell to US$2.1 million from $3.7 million during the same period last year.

Inspira Financial Inc. (CVE:LND), meanwhile, reported a 52% quarter-over-quarter increase in revenue to $2.5 million in Q4, while its net profit for the period was in excess of $1.4 million, a 60% quarter-over-quarter gain. Inspira Financial stock popped 21% to $0.63 following the announcement.

In addition, shares of CardioComm Solutions, Inc. (CVE:EKG) climbed 43% to $0.05 as the provider of consumer heart monitoring and medical electrocardiogram software solutions said it has entered into a sales and ECG services agreement with California-based Vascular Innovations Ltd to provide post-market surveillance of patients with coronary artery disease treated with a new drug eluting stent. The program will be launched first in India.

Finally, WesternZagros Resources Ltd. (CVE:WZR) shares rose 5% to $0.10 after the oil & gas explorer/developer announced the approval of the Garmian Block Field Development Plan from the Kurdistan Regional Government and the submission of the Kurdamir Block FDP. Both blocks are located in the Kurdistan Region of Iraq.

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